Permit for Nichols Ranch uranium

05 January 2011

Uranerz has permission from the state of Wyoming to mine uranium at Nichols Ranch. Only approval from the Nuclear Regulatory Commission is outstanding.

Nichols Ranch is one of seven deposits located in the Wyoming portion of the Powder River Basin that together have uranium resources of 6060 tonnes, certified in line with the NI 43-101 standard. Yesterday Uranerz received a commercial permit to mine from the Wyoming Department of Environmental Quality.

Drilling at Nichols Ranch (Image: Uranerz)

Company president and CEO Glenn Catchpole said no "negative comments" were submitted to state authorities during the public comment period and this shows "the citizens of Wyoming support uranium mining as long as operations follow the state's comprehensive environmental laws and regulations."

Pending a materials license from the Nuclear Regulatory Commission, Uranerz plans to construct the on-site structures it needs to begin mining this year, such as a mill. Nichols Ranch is planned to include a mill and could also be a platform for Uranerz' Hank, Jane Dough, West North-Butte and Reno Creek projects in the Powder River Basin, the company said. Overall the properties should produce up to 770 tonnes of uranium annually.

At the end of last year Uranerz raised $20 million from "at-the-market" financing activity, taking its treasury to $36 million.